Becoming an Independent Broker

Some Considerations For
Becoming an Independent Broker

Note: Counsel from appropriate qualified professionals such as a business attorney, CPA,
business coach, etc. is highly recommended.

Required Education and Experience

Colorado Real Estate Commission's rules & regulations
Mandated education & experience requirements

Assessment & Planning

Business structure (Individual, Limited Liability Company, Corporation, etc.)
Business plan
Finances & income tax
Risk management

Business Name

Verify that the name is not already being used
      - real estate commission database
      - trade name database
      - SOS database
Marketing considerations (logo/branding)
EIN application

Office Setup

Location (consider client meetings)
Determine a fee structure
Necessary services such as phone, fax, email
Internet access, website
Equipment such as computer, printer
Business cards, signs, lockboxes, etc.
Contract forms
Showings appointments
Mandatory office policy, record keeping & retention

Bank Account and Financing

Open a business operating account at a bank and order checks
Apply for a business credit card
Apply for a business loan (if necessary)

Licensing Status Change

Purchase E&O insurance (both company and individual policies are required)
Apply for license upgrade w/proof of SOS standing
Apply for new office name with MLS
Change REALTOR Association information - join other associations

Employing Others

Licensed assistants
Real estate broker associates

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